HomeMy WebLinkAboutOrdinance 20584-01-2013ORDINANCE NO. 20584-01-2013
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER EIGHTY-SIX, CITY OF FORT
WORTH, TEXAS"; PROVIDING THE EFFECTIVE AND
EXPIRATION DATES FOR THE ZONE AND A MECHANISM
FOR RENEWAL OF THE ZONE; AND CONTAINING OTHER
MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to the City Council's adoption on June 22, 2010 of
Resolution No. 3895-06-2010 (the "Tax Abatement Policy"), the City of Fort Worth,
Texas (the "City") has elected to be eligible to participate in tax abatement and has
established guidelines and criteria governing tax abatement agreements entered into
between the City and various third parties, as authorized by and in accordance with the
Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas
Tax Code (the "Code"); and
WHEREAS, pursuant to the City Council's readoption on December 6, 2011 of
the Relocation Incentives Policy (Resolution No. 4051-12-2011), the City has included
tax abatement as one of the incentives that may be made available to businesses that are
displaced and must relocate due to a Major Public Infrastructure Project, as that term is
defined in the Relocation Incentives Policy; and
WHEREAS, pursuant to the City Council's adoption on July 18, 2006 of
Resolution No. 3390-07-2006, the City Council has determined that the Trinity River
Uptown Project, as defined in Resolution No. 3390-07-2006, is a Major Public
Infrastructure Project and that, therefore, businesses that are displaced and must relocate
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page I of 6
City of Fort Worth, Texas Ordinance No. 20584-01-2013
on account of the Trinity River Uptown Project are eligible for incentives pursuant to and
in accordance with the Relocation Incentives Policy; and
WHEREAS, Commercial Metals Company ("Company") currently operates its
business on property located at 601 North Throckmorton Street and is being displaced on
account of the Trinity River Uptown Project; and
WHEREAS, Company is considering a relocation of its business to property
located on Old Decatur Road, south of Northwest Loop 820 and west of Fort Worth
Meacham International Airport, as more specifically described in Exhibit "A" of this
Ordinance (the "Zone"), which is located within the area of the City defined by the
Relocation Incentives Policy as Area 1; and
WHEREAS, as a result of Company's relocation to the Zone, Company will
qualify for tax abatement under the Relocation Incentives Policy; and
WHEREAS, on February 1, 2012 Company applied for a real and personal
property tax abatement and certain other incentives from the City under the Relocation
Incentives Policy; and
WHEREAS, Company will need to make certain improvements to the property
within the Zone in order to operate its business there, which improvements are more
specifically described in Company's Relocation Incentives Application (collectively, the
"Improvements "); and
WHEREAS, on February 21, 2012 the City Council held a public hearing
regarding the creation of the Zone, received information concerning the Improvements
proposed for the Zone and afforded a reasonable opportunity for all interested persons to
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page 2 of 6
City of Fort Worth, Texas Ordinance No. 20584-01-2013
speak and present evidence for or against the creation of the Zone ("Public Hearing"),
as required by Section 312.201(d) of the Code; and
WHEREAS, notice of the Public Hearing was published in a newspaper of
general circulation in the City on February 10, 2012, which satisfies the requirement of
Section 312.201(d)(1) of the Code that publication of the notice occur not later than the
seventh day before the date of the public hearing; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e), of the Code
notice of the Public Hearing was delivered in writing not later than the seventh day
before the date of the public hearing to the presiding officer of the governing body of
each taxing unit that includes in its boundaries real property that is to be included in the
proposed Zone;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
Section 1.
FINDINGS.
That after reviewing all information before it regarding the establishment of the
Zone and after conducting the Public Hearing and affording a reasonable opportunity for
all interested persons to speak and present evidence for or against the creation of the
Zone, the City Council hereby makes the following findings of fact:
1.1. The statements and facts set forth in the recitals of this Ordinance are true and
correct. Therefore, the City has met the notice and procedural requirements
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page 3 of 6
City of Fort Worth, Texas Ordinance No, 20584-01-2013
established by the Code for creation of a reinvestment zone under Chapter 312 of
the Code.
1.2. Designation of the Zone as a reinvestment zone will enable Company to receive a
real and personal property tax abatement that will assist Company in offsetting
costs it must incur solely due to its displacement by the Trinity River Uptown
Project and will cause Company to redevelop property in the Zone for commercial
purposes that would not otherwise occur. Therefore, as a result of designation as a
reinvestment zone, the area within the Zone is reasonably likely to contribute to
the expansion of primary employment and to attract major investment in the Zone
that will be a benefit to property in the Zone and will contribute to the economic
development of the City.
1.3. The Improvements proposed for the Zone, as more specifically outlined in
Company's Relocation Incentives Application and during the Public Hearing, are
feasible and practical and, once completed will benefit the land included in the
Zone as well as the City for a period in excess of ten (10) years, which is the
statutory maximum term of any tax abatement agreement entered into under the
Chapter 312 of the Code.
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in the boundary
description attached hereto as Exhibit "All and made a part of this Ordinance for all
purposes as a reinvestment zone for purposes of granting a real property and business
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page 4 of 6
City of Fort Worth, Texas Ordinance No. 20584-01-2013
personal property tax abatement, as authorized by and in accordance with Chapter 312 of
the Code. This Zone shall be known as "Tax Abatement Reinvestment Zone Number
Eighty-One, City of Fort Worth, Texas." This project is eligible for a
commercial/industrial tax abatement pursuant to Section 2 of the Relocation Incentives
Policy.
Section 3.
TERM OF ZONE.
That the Zone shall take effect upon the effective date of this Ordinance and
expire five (5) years thereafter. The Zone may be renewed by the City Council for one or
more subsequent terms of five (5) years or less.
Section 4.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page 5 of 6
City of Fort Worth, Texas Ordinance No. 20584-01-2013
Section 5.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: January 15, 2013
APPROVED AS TO FORM= AND LEGALITY:
...... .... ...
By:
Peter Vaky
Deputy City Attorney
M&C: G-17789
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six, Page 6 of 6
City of Fort Worth, Texas Ordinance No. 20584-01-2013
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EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
BEING a 14.189 acre tract of land in the A.F. Albright Survey, Abstract Number 1849, situated
in Tarrant County, Texas, and being a portion of Lot 3, Block I and all of Lot 2, Block 1, 820
Business Park, an addition to the City of Fort Worth, Texas, recorded in Cabinet A, Slide 12879,
Plat Records, Tarrant County, Texas. The bearings for this description are based on the west line
of said Lots 2 and 3, Block I of 820 Business Park. Said 14.189 acre tract being described by
metes and bounds as follows;
BEGINNING at a V2" iron rod with plastic cap stamped "RPLS 4818" found at the northwest
comer of said Lot 3, Block 1;
THENCE North 89'57'00" East, along the north line of said Lot 3, Block I a distance of
1208.99 Feet to a'' /2" iron rod with plastic cap stamped "RPLS 4818" set at the northeast comer
of Lot 3, Block 1, same being on the westerly right-of-way line of Interstate Loop 820, access
road, a public right-of-way;
THENCE South 28'43'00" West, departing said north of Lot 3, Block 1, and continuing along
the easterly line of said Lot 3, Block I and along said westerly right-of-way line, a distance of
64.49 Feet to a V2" iron rod found at the point of curvature of a non-tangent curve, concave to the
northwest, having a radius of 1780.86 Feet, a central angle of 0 °1 8'35 ", and a chord of 9.63 Feet
bearing South 28'31'59" West;
THENCE southwesterly, continuing along said easterly line of Lot 3, Block 1, and the said
westerly right-of-way line, and along the arc of said curve, a distance of 9.63 Feet to a 1/2" iron
rod with plastic cap stamped "RPLS 4818" set at the northeast comer of that certain tract of land
described in deed to American National Credit Corporation, recorded in County Clerks File
Number D205143326, Real Property Records, Tarrant County, Texas;
THENCE departing said westerly right-of-way line and continuing over and across the said Lot
3, Block 1, along the northerly, westerly and southerly lines of the said American National Credit
Corporation tract the following courses and distances:
North 87'36'54" West, a distance of 262.36 Feet to a V2" iron rod with plastic cap
stamped "RPLS 4818" set;
South 74'44'06" West, a distance of 234.27 Feet to a 1/2" iron rod with plastic cap
stamped "RPLS 4818" set;
South 2'09'44" East, a distance of 223.76 Feet to 1/2" iron rod with plastic cap stamped
"RPLS 4818" set;
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six,
City of Fort Worth, Texas
North 89'13'34" East, a distance of 297.81 Feet to a!/2" iron rod with plastic cap stamped
"RPLS 4818" set on the said westerly right-of-way line, same being the easterly line of
said Lot 3, Block 1, and being the beginning of a non-tangent curve, concave to the
northwest, having a radius of 1780.86 Feet, a central angle of 7'05'39", and a chord of
220.36 Feet bearing South 42'43'59" West'
THENCE along the said westerly fight-of-way line, and said easterly line Lots 3 and 2, of said
Block 1, the following courses and distances;
Southwesterly, along the arc of said non-tangent curve, a distance of 220.50 Feet to a V2"
iron rod with plastic cap stamped "RPLS 4818" set;
South 46'21'00" West, a distance of 310.72 Feet to a broken concrete highway
monument, and the beginning of a non-tangent curve, concave to the southeast, having a
radius of 845.20 Feet, a central angle of 7006'54", and a chord of 104.89 Feet bearing
South 42042'l 8" West;
Southwesterly, along the arc said curve, a distance of 104.96 Feet to a V2" iron rod with
plastic cap stamped "PR:S 4818" found at the southeast comer of Lot 2 of said Block 1,
820 Business Park;
THENCE South 89022'29" West, departing said westerly right-of-way line and continuing
along the south line of the said Lot 2, Block 1, a distance of 548.33 Feet to a bent '/2" iron rod
found southwest comer of the said Lot 2, Block 1;
THENCE North 0'10'00" East, along the west line of said Lots 2 and 3, Block 1, a distance of
793.70 Feet to the POINT OF BEGINNING, and containing a computed area of 14.189 Acres,
more or less.
Ordinance Designating Tax Abatement Reinvestment Zone Number Eighty-Six,
City of Fort Worth, Texas
City of Fort Worth, Texas
Mayor and Council Communication
R W
W
DATE: Tuesday, January 15, 2013 REFERENCE NO.: G-17789
LOG NAME: 17RTARZ86EST
SUBJECT:
Conduct a Public Hearing and Adopt Ordinance Designating Property at 5101 and 5201 North Main Street
as Tax Abatement Reinvestment Zone No. 86, City of Fort Worth, Texas to Mitigate the Displacement of
Bucks Wheel & Equipment Co. by the Trinity River Vision Project (COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of the property at 5101 and 5201 North Main
Street as Tax Abatement Reinvestment Zone No. 86, City of Fort Worth, Texas to mitigate the
displacement of Bucks Wheel & Equipment Co. by the Trinity River Vision project; and
2. Adopt the attached Ordinance that designates Tax Abatement Reinvestment Zone No. 86, City of Fort
Worth, Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code.
DISCUSSION:
Bucks Wheel & Equipment Co. (Company) is located at 220 South Commercial Street and is being
displaced due to the Trinity River Vision -- Central City Project. As a result of the displacement, the
Company is considering relocating to property at 5101 and 5201 North Main. Under the City of Fort
Worth's Relocation Incentives Policy (Policy), a business that is displaced due to a Major Public
Infrastructure Project and which relocates to one of the three target areas outlined in the Policy is eligible
to receive certain incentives, including tax abatement. Pursuant to Resolution No. 3390-07-2006, the City
Council has designated the Trinity River Uptown Project as a Major Public Infrastructure Project for
purposes of the Policy.
In order for the City Council to consider the grant of a tax abatement to the Company, the City Council
must first conduct a public hearing and then designate the Company's proposed relocation site as a Tax
Abatement Reinvestment Zone (Zone). The exact boundaries of the proposed Zone are described in the
map and property description set forth in Exhibit A of the attached Ordinance. The proposed Zone is
located within the portion of the City designated by the Policy as Area 3. Notice of this public hearing was
delivered to the governing body of each affected taxing unit and published in a newspaper of general
circulation at least seven days prior to this hearing.
The area encompassing the proposed Zone meets the statutory criteria for designation as a Tax
Abatement Reinvestment Zone, pursuant to Chapter 312 of the Texas Tax Code. As a result of the
designation, the area is reasonably likely to contribute to the retention or expansion of primary
employment or to attract major investment in the Zone that would contribute to the economic development
of the City. Further, the improvements sought in the Zone are feasible, practical, and would be of benefit
to the land to be included in the Zone and to the City after any Tax Abatement Agreements, which may be
entered into, have expired.
Logname: 17RTARZ86EST Page 1 of 2
The term of the proposed Zone will be five years from the date of adoption of the attached Ordinance and
may be renewed for periods not to exceed five years each.
This project is in COUNCIL DISTRICT 7.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO Fund /Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
FROM Fund /Account/Centers
Fernando Costa (6122)
Jay Chapa (5804)
Robert Sturns (8003)
Marguerite Allen (2235)
Logname: 17RTARZ86EST Page 2 of 2